On January $2,2023,$ Jarvis Corporation's stockholders' equity accounts were as follows:

Common Stock, $$1$ par $$200,000$

Additional paid$-$in$-$ capital $700,000$

Retained Earnings $450,000$

Jarvis's assets and liabilities had book values equal to fair values except for inventory, land and building which were undervalued by $$100,000,$ $$150,000,$ and $$80,000,$ respectively. On January $2,2023,$ Jones Corp. purchased all of Jarvis's common stock for $$1,800,000$ cash. There was no contingent consideration in the agreement to combine.

a$.$ Allocate the acquisition costs to net assets required. $(5$ points$)$

b$.$ Prepare the consolidation entries to reflect Jarvis$$ acquisition of Jones $(8$ points$)$